Walmart To Launch Beauty Accelerator Program
Walmart is planning to launch a startup accelerator program for beauty brands with the goal of introducing new and innovative products on its stores’ shelves.
The program will give brands access to a virtual classroom and a range of benefits such as access to brand management consultants, mentorship and networking opportunities, as well as training on Walmart’s ad platform.
According to the company, the program is “specially focused on preparing brands to execute a potential 1,000+ store and online launch at Walmart in the next year.”
Beauty brands that offer products relating to cosmetics, hair, skin, nails and fragrance, among other things, are all eligible to participate in the accelerator program, provided they have products that are ready to sell and be distributed at Walmart stores. These brands must also have manufacturing, supply chain, and financial capabilities to support a potential launch in 1,000 to 3,500 stores.
Walmart is far from being the only major player in the U.S. retail space using its accelerator program to attract beauty brands. Target’s Takeoff program, which was launched five years ago, is launching 40 new beauty brands at Target stores, the company announced this month. Beauty retailer Sephora also has its own brand accelerator program, and Ulta plans to launch one soon for BIPOC beauty brands.
Originally published at https://retailbum.com on February 24, 2022.
